What Does the Environment Act Mean for Business?
This Business in the Community (BITC) factsheet outlines the risks and opportunities of the UK Environment Act 2021, a wide-ranging piece of legislation that will replace the previous environmental standards set by the EU. The Act will provide a new framework for environmental protection in the UK by setting targets for clean air, biodiversity, water quality, and waste.
The most important elements of the The Environment Act 2021 are:
- mandatory environmental targets
- creation of the Office for Environmental Protection (OEP)
- biodiversity net gain (BNG) regulations
- Local Nature Recovery Strategies (LNRS).
Most of the risk is not around the aims and objectives of the bill but with its implementation and practical delivery. This is important for businesses as they will find themselves having to quickly alter their operations to meet the regulatory requirements. However, the legislation also offers opportunities for responsible businesses to engage with local authorities and communities on nature. Businesses should also work proactively to embrace the changes as research has shown that environmental regulations can boost economic growth by improving business innovation
Business in the Community’s work on climate action.
By 2030 the UK needs to have delivered on its commitment to limit global warming to 1.5°C, something many consider only possible by achieving a net zero carbon economy. Business in the Community (BITC) is helping organisations address climate change as part of future-proofing their business so they prosper in this changing world.